McDonald's stock climbed Monday after Evercore ISI hiked its price target on the Dow Jones fast food giant.
Evercore on Monday said it is "increasingly bullish" on McDonald's U.S. business for 2025, The Fly reported. The firm noted that McDonald's has experienced some relative market share trend improvements recently and believes they will continue through the second half of the year.
Evercore lifted its Q3 U.S. same-store sales estimate to be flat year-over-year, compared to its prior forecast for a 1% decline. The firm now expects 2025 U.S. same-store sales growth to reach 3%, up from its previous outlook for a 2% gain.
Evercore hiked its price target on MCD stock to 320 from 300 and kept an outperform rating on the shares.
McDonald's Stock Surges Early
McDonald's stock surged 3.3% Monday. Shares rebounded above their 200-day moving average on Friday.
MCD stock is working up the right side of a cup base with a 302.39 buy point, matching its mid-January high.
McDonald's stock has retreated 3% on the year.
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